Hong Kong’s Securities and Futures Commission (SFC) has added the unregulated binary options broker Option500 to its warning list.
In its publication the regulator notes the broker is not licensed to target Hong Kong residents, but is doing it nevertheless.
According to its website, Option500 is based in the UK, but an SMN check revealed it is not registered as a financial services provider with the FCA. Moreover, it is not the first time the broker turns up in a regulator warning. Earlier this year Belgium’s FSMA put it on its list of unauthorized entities.
Last October the Cyprus Securities and Exchange Commission also warned Option500 is not authorized by it to provide financial services.